WHAT MAKES A GOOD REALTOR?

I have now been a Realtor for just over thirty years. I have been asked “what makes a good Realtor” more times than I can count. I believe the best answer depends on who is asking the question.

There are many spokes in the wheel of a Real Estate transaction and each one of those spokes carries the weight of the transaction. The two most vested parties of a transaction are the buyer and the seller. However, there are other spokes to the transaction wheel involved but not limited to Real Estate lawyer, mortgage broker and of course the Realtor. All of those involved in the transaction may have a different answer to the question: “what makes a good Realtor”. However, for the purposes of this format I’m going to provide my own answers to that question.

Words like truth, trust, experience, knowledge, integrity most certainly should be used to describe a good Realtor and a good Realtor should possess those qualities. More importantly though, is how and when to use those qualities. Over my thirty-year career, I can assure you not every buyer or seller has appreciated my use of these qualities and the timing thereof. Let’s review:

Client Goals:

As a Realtor, it is imperative that I have a clear understanding of the goals of my client whether it be buyer or seller. Equally imperative is that my client’s goals be achievable and/or realistic in the current Real Estate market. By educating those clients on the current market conditions and overlaying those conditions with their goals, all parties involved can or should see if their perceived goals are achievable or need to be adjusted. Without everyone involved in the transaction having a clear understanding of what the goals are and if indeed they are achievable, there can only be unsatisfied goals, confusion and recrimination ahead for all.

Sometimes as a Realtor while using the qualities that clients expect, they see that perhaps their stated goals are unrealistic, or at least they should. Occasionally then, in order for me to retain all of the qualities expected of me, I need to inform the client that I cannot assist them unless they adjust their goals in line with current Real Estate market conditions. That’s, “what makes a good Realtor”. 

Property Itself:

When representing a buyer or seller in a Real Estate transaction there is a property involved either to buy or sell. As a Realtor, I have a responsibility to perform my due diligence with regard to that property. For both buyers and sellers, I have the ability to research what similar homes in the neighbourhood have sold for. I also have the obligation to determine what if any negative characteristics the property possesses. Should I, or my clients have concerns about any negative characteristics of the home then they should be addressed.

There can be much discussion about any property defects a seller and their Realtor are legally responsible to disclose. As a Realtor, there is very little grey area. As a buyer, you will want to know of anything that may impact the long-term value of the property you are interested in purchasing. As a Realtor, it’s is my responsibility to use all of the tools at my disposal to provide the information to assist you in making a decision and protect both the buyer and seller in the transaction. That’s, “what makes a good Realtor”.

The Process:

Both buying and selling of property does not usually happen overnight. There is a process and protocol that is usually followed. Often buyers and sellers don’t know, what they don’t know. It’s safe to say that most people don’t buy and sell homes often. Therefore, market conditions and provincial regulations may be very different from the last time they bought or sold a property. In order for a smooth, stress free transaction to occur its imperative for the buyer or seller to understand the process of buying or selling property.

As a Realtor, having a client completely understand how the process of buying or selling is going to unfold gives them confidence to assist in making a sound decision. Surprises or fear of the unknown may hinder their decision-making process. They may miss out on a good opportunity or worse, become involved in a bad one should they not know when and how the process of a Real Estate transaction is going to unfold. Ensuring a client fully understands the Real Estate transaction process is “what makes a good Realtor”.

The Contract:

Whether buying or selling property there is a written contract involved. How that contract is written, the clauses used or deleted and all that is written within that contract is the basis for legal protection or legal exposure of the buyer and seller. There is much that can be stated in the contract that can provide protection to a client and their investment. It is incumbent upon a Realtor with the authority of their client to ensure and comprehend all that can be done within the contract to provide maximum protection to the client and their investment.

To be sure, the purchase and sale of some types of properties is complicated. As are the contracts involved. A Realtor should have the knowledge and expertise regarding the property they are involved with to be able to construct a contract that provides protection to their client and investment. Should they have any doubt about their knowledge and expertise in that matter then they should seek the advice of others that do. That’s, “what makes a good Realtor”.

Real Estate Services:

As I stated earlier there are numerous spokes to the wheel of a Real Estate transaction. All involved should be working to the benefit of the buyer or seller. There are required services such as a Lawyer and Lender and there are auxiliary services like Home Inspectors, Insurers and Contractors who may be called upon to assist.

A Realtor should have a portfolio of battle tested professionals that they can refer if needed to assist in the Real Estate transaction. It goes without saying that those professionals are an extension of the credibility of the Realtor. Therefore “what makes a good Realtor” is the association they have with other experienced professionals that are required to assist in a Real Estate transaction. 

Post-Sale:

As stated above its important for both buyers and sellers to know what happens once a Real Estate transaction is finalized. In some situations, the client may still be working with their Realtor but in many the ongoing contact with the Realtor is diminished as the transaction is complete and only physical possession remains. However, there can be issues that come about once a transaction is finalized and before or after physical possession.

It’s important that a Realtor assures their client that they are still part of the process and will be available if needed. Quite often the client will ask the Realtor to liaise with the Realtor on the other end of the transaction or in fact their lawyer. Some may disagree, but I believe this to be the responsibility of a Realtor to whatever extent they may be able to assist.

Post-Sale can be the emergence of a long-lasting relationship with a client. It can also be the complete disintegration of that relationship depending on what transpired. Assuming the Realtor has followed all of the steps that in my opinion makes them a good Realtor, the buyer or seller will have experienced an enjoyable stress free Real Estate transaction. That Realtor will likely receive years of referrals from that happy client simply because they acted professionally in the best interest of their client using all of their experience and knowledge with no agenda of their own. The Realtor served that client in likely the largest financial transaction they will ever make. Understanding that is, well you know…”what makes a good Realtor”.

The reality of asking the question “what makes a good Realtor” is hard to summarize in a few pages. There are details that time and space don’t allow for in a brief synopsis. I can say though with complete conviction, that in my thirty years as a Realtor it has been very simple for me to understand the answer to that question.

It’s not hard for me to understand or appreciate what is expected of me as a Realtor. Helping young people buy their first home, assisting seniors make the last move of their lives, selling a loved one’s home who has passed, selling a home because of the breakup of a marriage and helping couples start again in a home is all part of my resume. I have seen raw emotion of both joy and sadness and it is impossible not to be moved by it. It’s particularly at times like those that I feel an immense responsibility to get it right.

I strive every day to act professionally and with integrity as a Realtor. Thirty years and counting as a Realtor…guess I am getting it right.

Questions about Real Estate in Winnipeg and Area? Contact Brenden Morgan, I can help. Call: 204-955-0500, email: brenden@brendenmorgan.com or visit my site at BrendenMorgan.com